The Port Authority of New York and New Jersey (NY/NJ) handled 633,925 TEU in December, an increase of 3.4% compared with the corresponding period of 2022. For the full year, 7.81M TEU was processed which was 17.7% lower than in 2022.
This was due to a slow start in the first half of the year, when inventories built up in warehouses took time to clear and high rates of inflation sapped consumer spending, reduced corporate investment and resulted in a slowdown in trading volumes.
December was the only month in 2023 that posted higher volumes than the corresponding month in 2022 although year-on-year monthly decreases declined substantially in the second half of the year. In December, NY/NJ posted increases in both its loaded import and export traffic compared with the corresponding period of 2022, with the former rising by 7.5% (to 326,412 TEU) and the latter by 1.4% (to 104,278 TEU).
But for the full year, decreases were also reported with imports down almost 17% to 3.99M TEU. Loaded exports fell just 1.1% to 1.284M TEU. In 2023, the NY/NJ was the second busiest port in the nation for loaded imports and exports with 5.3M TEU handled.
In terms of empties, in the inbound direction volumes rose by 10.1% while in the outbound direction a 25.4% decrease was recorded.
In other business sectors, the port posted a 9.8% increase in the number of containers moved by rail in December, with 50,442 containers processed, but a 19.2% decrease in auto traffic to 30,633 units. For the full year rail traffic declined by 11% and auto traffic by just over 19%, compared with 2022.
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